One of the major players in the two-wheeler segment in terms of market share, Pak Suzuki Motors, Monday announced increasing the rates of its motorcycles as the automobile sector faces difficulties in its operations due to the rupee’s devaluation.
The new rates will be applicable from May 9 onwards and remain intact till further notice, according to a notification sent by the company to its dealers.
The retail prices are inclusive of the ex-factory product price and freight charges incurred on motorcycles which “are delivered at your dealership premises”, the notification mentioned.
|S. No||Model||Retail Price (rupees)|
The rate of GD110s has been hiked to Rs335,000, GS150 Rs364,000, GSX125 Rs488,000, GR150 Rs521,000, and GW250JP Rs1.04 million, according to the notification.
“The above prices are subject to change without any notice, and price at the time of delivery shall be applicable. Any Government tax applicable will be charged to the customer.”
The company is the local assembler, manufacturer and marketer of Suzuki cars, pickups, vans, 4x4s and motorcycles as well as related spare parts. Meanwhile, the Suzuki brand itself is from Japan.
Pakistan’s auto industry, highly dependent on imports, has been caught in the midst of a crisis, as the State Bank of Pakistan, after unabated rupee depreciation, imposed restrictions on the opening of letters of credit (LCs). Industries are facing hindrances in operations as the country’s reserves remained low.
Last week, Atlas Honda — Pakistan’s biggest player in the two-wheeler segment in terms of market share — hiked the prices of motorcycles for the fourth time this year. With the recent increase, the bikes were made costlier by Rs5,000-15,000.